DeveloGen and Teva Enter into Exclusive License Agreement for DeveloGen’s Protein Kinase B Technology for the Treatment of Cancer
Goettingen, Germany — June 19, 2007: DeveloGen Israel Limited (“DeveloGen”), a wholly owned subsidiary of DeveloGen AG, today announced that DeveloGen, through its newly formed subsidiary CureGenics Limited, has granted a worldwide exclusive license to Teva Pharmaceutical Industries Limited (Teva) to its Protein Kinase B (“PKB”) technology for the treatment of cancer. Under the terms of the agreement, DeveloGen has granted a worldwide exclusive license to its proprietary PKB technology to Teva. Through this license, Teva also gains access to a number of pre-clinical compounds which it plans to develop in the area of cancer treatment. DeveloGen will receive royalties upon commercialisation of products derived from the PKB technology and Teva has further monetary obligations towards DeveloGen upon signing of the agreement as well as successful completion of key developmental and regulatory milestones prior to commercialisation. "With Teva, we have found a strong partner for this highly innovative program”, said Carsten Dehning, Chief Financial Officer of DeveloGen. “Teva’s proven expertise in the successful development and marketing of ethical drugs will be instrumental in bringing this novel treatment to the many patients suffering from cancer. This deal underlines our strategy of focusing on metabolic and endocrine disorders while at the same time maximising the return on our non-core assets.” For further information please contact: DeveloGen AG Carsten Dehning Chief Financial Officer Marie-Curie-Strasse 7 37079 Goettingen, Germany Phone: +49 551 50558 525 Email: email@example.com About Protein Kinase B (PKB/Akt) PKB is a highly validated anti-cancer drug target which addresses in particular a very important tumour survival pathway. The target is a ser/thr kinase which can be activated by many growth factors and has been implicated in anti-apoptotic but also in pro-proliferative processes. PKB has been found to be highly active in various tumours contributing to their growth and survival as well as resistance to chemotherapy. Due to their novel mechanism of action, DeveloGen’s PKB
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inhibitors offer the potential for both a potent monotherapy as well as a combination treatment with existing therapies.
DeveloGen DeveloGen AG is a biopharmaceutical company engaged in the discovery and development of novel therapeutics for the treatment of metabolic and endocrine disorders. The Company’s most advanced drug candidate Somatoprim, a potentially best-in-class somatostatin analogue for the treatment of acromegaly and diabetic retinopathy, is in preparations for phase I clinical studies. In addition, DeveloGen has a deep and highly complementary discovery pipeline including a small molecule program based on a novel and proprietary target to address insulin resistance (type 2 diabetes) and a growth factor targeting betacell regeneration (type 1 and type 2 diabetes). DeveloGen is based in Goettingen, Germany. For more information on DeveloGen, please visit www.develogen.com.
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